Advanced Taxation

Paper Code: 
AAF 612
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The Objective of this course is to provide insight of Wealth Tax, Corporate Tax, VAT, Customs Duty, Service Tax and their application.

10.00

Wealth Tax Act and Rules:
Definition of Wealth Tax,
Charge and Scope of Wealth Tax,
Deemed Assets,
Exempted Assets,
Valuation of Assets as per wealth tax act
Computation of Net Wealth and Wealth Tax,
Procedure of Assessment,
Liability for Assessment in special cases,
Appeals, Revisions and References,
Payment , Recovery and Refund of Wealth Tax.

10.00

Assessment of Companies-
Detailed Study of Income Tax law and rules with reference
to assessment of companies.
Computation of Tax Liability
Assessment Procedure.

10.00

Central Sales Tax
Introduction
Sale and purchase of goods in the course of inter-state trade,
Outside the state and in the course of import or export
Inter-State Sales Tax
Rates, levy and collection of tax Goods of Special
Importance in Inter-State Trade or Commerce

5.00

Value Added Tax
Evaluation of VAT IN India
Design of State level VAY
Principles, variants and Methods of computation of
VATGeneral Requirements for VAT System

10.00

Service Tax
Concept and General Principles
Charge of Service Tax
Mega Exemptions and other exemptions
Provision of Service Rules, 2012
Registration
Valuation of Taxable Services
Payment of Service Tax
Furnishing of Returns of Service Tax
CENVAT Credit

Essential Readings: 

Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta( Bharat Law House Pvt Ltd, New Delhi

Wealth Tax and Corporate Tax- Patel, Chouduhary, Sharma, Modi, Bardiya(Choudhary Praskashan)

Income Tax and Central Sales Tax- B.B Lal, N Vashisht (Peasosn Educatio)

References: 

Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd

Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi) Law and Practice of IncomeTax, Mr Dinkar Pagare, (M/S Sultan Chand& Sons) Income Tax for Students-Sharad Bhargav, (Mashbara Industries)

Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan)

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

Academic Year: